M&M also to hike prices after Maruti Suzuki
According to ET Now, Mahindra and Mahindra is set to hike prices after Maruti Suzuki. M&M will increase pick up prices across 10,000 variants.
Moreover, the automobile company has increased the price by almost 2 percent in their pick-up range. M&M may also increase the price of UV range from next month.
Also, Tata Motors will increase the price due to the current demand scenario. The price may hike between 1.5 to 2 percent range across the industry.
Mahindra and Mahindra is expected to reduce production and sales volume due to the global supply shortage of micro-processors. M&M informed of communicating with its auto components supplier Bosch and like to calculate production loss.
In a regulatory filing, Mahindra said, “The operations of the company in the automotive sector will be affected by the global supply shortage of micro-processors (semiconductors) used in electronic control units (ECUs) which are supplied by Bosch.”
M&M said, “The company is engaging closely with Bosch and assessing likely production loss for the last quarter of FY 2020-2021 on account of this supply disruption as also steps to be taken to minimize the impact of the same.”